Prana Investments Acquires Multifamily Property In Soundview For $7.1M

The multifamily property located at 1491 Watson Avenue in Soundview has been sold in a closed transaction. The property spans 50,700 square feet and consists of 60 units. The transaction was completed at a price of $7,100,000, resulting in a price per square foot of $140. The buyer, Prana Investments represented by Rick Herman, acquired the property from the seller, Rosedale Management represented by Elizabeth Crane.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $7,100,000
• Square Footage: 50,700
• Price per Square Foot: $140
• Number of Units: 60
• Buyer: Prana Investments - Rick Herman
• Seller: Rosedale Management - Elizabeth Crane

This transaction involved the buyer, Prana Investments, represented by Rick Herman, and the seller, Rosedale Management, represented by Elizabeth Crane. Prana Investments saw the opportunity in acquiring this multifamily property in Soundview, and successfully closed the deal with a purchase price of $7,100,000. On the other hand, Rosedale Management, led by Elizabeth Crane, decided to sell the property. The transaction showcases the active real estate market in Soundview and the strategic decision-making by both buyer and seller.